Ancient Gold

Lot 3070    Session 11 (9.30am Thursday)    Ancient Gold

Estimate $7,500
Bid at live.noble.com.au
SOLD $5,500

IONIA, Miletus, (c.570-550 B.C.), electrum stater, (13.956 grams), obv. lion lying to left, head reverted, within rectangular striated border, rev. incuse rectangle between two small squares, within rectangle a fox to left, within squares; a deer's head to left and in other square a cross formed between pellets at each end and in centre, (S.3439, £10,000; ACNAC Rosen 577 [similar dies], Traite I, 17 [pl.i,15], Head, B.V., Principal Coins of the Greeks Pl.I, No.7). Very fine/good very fine and very rare.

A similar example in our Noble Numismatics Sale No.57, (lot 729 sold for $13,200) and another in Sale No.67, (lot 1581 sold for $8,300). One of the earliest coins. It was struck in Western Turkey (about 600 B.C.), of electrum, a naturally occurring alloy of gold and silver. These electrum staters were made at three weight standards known today as the Phocaic, the Euboic and here, in this coin, the Milesian. The earlist coins have a design on one side and the reverse struck from three crude punches. As the coinage evolved these reverse punches evolved (as on this coin), into a design and a pattern. Recent numismatic reseach dates this towards the middle of the first half of the sixth century B.C. The attribution to Miletus is fairly certain as the lion with reverted head remained the type of Miletus for another four centuries. It also shares this weight standard with Lydia. Hill knew of only six specimens of this then excessively rare coinage. A few additional specimens have come on the market in recent times probably from a small hoard and includes, it is believed, this example.